People to know in economic development: Mark Sommer
Member, tax and employee benefits practice group leader, Frost Brown Todd LLC
Years in current job: Four
Years in economic development: 29
What are some benefits and drawbacks of public-private partnerships?
If the difference between purely public, purely private and public-private development means something gets built versus not being built, then public-private partnerships are the way to go. Massive transportation-focused infrastructure projects are a prime example. Bridges, industrial parks, transportation and logistics hubs, etc., are all prime areas of public-private partnership opportunities. The capital investment is simply too large and the infrastructure rebuild needs are too many to leave all of this kind of investment up to the public. We all win if it’s a good deal, and that’s the key to the public-private partnership.
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